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Gold slips as higher oil, US inflation data bolster Fed hike bets
Gold prices slipped on Friday as higher oil prices and robust US inflation data strengthened the case for another Federal Reserve interest rate hike later this year. Spot gold was down 0.5% at $4,000.54 per ounce by 0511 GMT, while US gold futures for December delivery dropped 0.5% to $4,010.10. Bullion was on track for a second consecutive monthly decline. “Gold’s slide is asking serious questions of technical support around the $4,000 level. Dip buying has previously limited declines, but it remains to be seen whether value buying will come to gold’s rescue,“ said Tim Waterer, chief market a...
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